Reply to household income of 250K to send kids to private school

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I would think at least 400k if not more to send two if you live in the dc area and the schools are at the high end of tuition. [/quote]

that's not so pretty either for two kids.

$400k gross
($37k) to two 401ks
($5k) to two 529s
($5k)  healthcare
(175k) to taxes (federal, state/county, Medicare/caid, SS, FICA)
= $180k net after taxes and tax shields
($50k) mortgage
($40k) Kid 1 tuition + fees
($40k) Kid 2 tuition + fees
($10k) summer childcare/camps, any sports any season
($10k) groceries, lunches out, some dinners out
($10-20k) to investments
($5k) seasonal clothes/shoes for growing family
($5k) entertainment/vacations/repairs

Wiggle room is in your spending habits and childcare options. $40k nanny, $25k au pair, $10k before/after care, grandparent, flex job parent.

- private banker accountant

[/quote]

+1.  We are a little over 400k and no way we'd do private unless it was absolutely necessary.  Instead of spending 80k in posttax dollars for private education we invest in private brokerage accounts.  It's pathetic to spend 80k a year on something you could have for free when you're not even saving that much annually.

I'd need closer to 750k for two private school educations.  Because I'd want a nicer home and vacations before paying private school tuition. It's pretty much last on the list of luxuries.  
[/quote]

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